NYMEX-Crude ends lower on economic jitters

NEW YORK, Dec 3 (Reuters) - U.S. crude futures ended lower
in seesaw trading on Thursday amid economic worries, after a
report showed that the services sector weakened in November.

Traders were cautious ahead of Friday's unemployment report
for November and as crude futures remained pressured by
Wednesday's government data showing domestic crude inventories
rose more than expected last week. For details see [EIA/S]

"The inventory situation is still providing a bearish
backdrop," said Tom Bentz, analyst at BNP Paribas Commodity
Futures in New York.

The White House said on Thursday a private sector payroll
report on Wednesday had signaled that November's unemployment
level may tick up from 10.2 percent in October, but stressed it
was not predicting the outcome of the government's monthly
payroll data.

The payroll report will be released at 8:30 a.m. EST (1330
GMT) on Friday. Analysts polled by Reuters expected the
unemployment rate to be unchanged at 10.2 percent.

"Crude oil futures are (near) flat at this time as energy
markets, just like the stock and currency markets, are awaiting
tomorrow's unemployment data," said Tom Knight, trader at
Truman Arnold in Texarkana, Texas.

On Wall Street, the Dow Jones Industrials Average [.DJI]
and the Standard & Poor's 500 Index [.SPX] edged down as the
services sector report offset optimism about Bank of America's
plan to repay billions in government aid. [.N]

The U.S. dollar was slightly off against a basket of major
currencies. [USD/] The greenback was much weaker earlier, a
factor in crude oil's early rise to above $77.

The U.S. services sector unexpectedly contracted in
November, the Institute for Supply Management said. The ISM
services index shrank to 48.7 in November from 50.6 in October.
That was below the median forecast. [ID:nN0394160]

PRICES

* On the New York Mercantile Exchange, January crude CLF0
settled down 14 cents, or 0.18 percent, at $76.46 a barrel,
trading from $75.54 to $77.50.

* At the close, the discount for NYMEX January crude
against February crude CLG0 was $1.75, after widening on
Wednesday as much as $1.93, the steepest since Aug. 19.

* In London, January Brent crude LCOF0 ended up 48 cents,
or 0.62 percent, at $78.36 a barrel, trading from $77.41 to
$78.95.

* NYMEX January RBOB RBF0 ended up 0.02 cent, or 0.01
percent, at $1.9930 a gallon, trading from $1.9731 to $2.0157.

* NYMEX January heating oil HOF0 ended up 1.31 cents, or
0.64 percent, at $2.0495 a gallon, trading $2.0207 to $2.0630.

* The January/January RBOB crack spread <0#RB-CL=R> ended
at $7.25, rising from $7.10 on Wednesday. The January/January
heating oil crack spread <0#CL-HO=R> ended at $9.62, rising
from $8.93 on Wednesday.

* The spread between the current front month and the
five-year forward crude contract CLc61 ended at $18.88,
widening from $17.51 on Wednesday. The January 2015 contract
settled Thursday at $95.34, up $1.23, or 1.31 percent.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $77.11/$77.84

Technical support/resistance:

NYMEX crude: $74.40/$78.81

NYMEX heating oil: $1.9995/$2.0733

NYMEX RBOB: $1.95/$2.0350

For a full report on technicals, click on [ID:nGEE5B2134]

MARKET NEWS

* OPEC seaborne oil exports, excluding Angola and Ecuador,
will rise by 130,000 barrels per day in the four weeks to Dec.
12, according to a weekly estimate by Roy Mayson, an analyst at
UK consultancy Oil Movements. [ID:nWLA9247]

* OPEC Secretary General Abdullah al-Badri said the group
needs to remain cautious and take things slowly at its meeting
on Dec. 22 in Luanda, Angola. [ID:nGEE5B22JS]

* Goldman Sachs (GS.N) maintained its $90-a-barrel 2010
average price forecast for West Texas Intermediate crude, but
said it would rise to $110 in 2011. [ID:nN03495913]

* After some mild midweek weather, AccuWeather.com expects
temperatures in the Northeast, to cool to below normal later
this week and next week, as daytime highs slip into the 30s and
low-40s Fahrenheit area.

* BP (BP.L) reported on Thursday a catalytic feed
hydrotreater unit at its 475,000 barrel-per-day refinery in
Texas City, Texas, will be shut for mechanical work, according
to an environmental filing. [ID:nSP526058]
(Reporting by Gene Ramos and Robert Gibbons; Editing by Walter
Bagley)
((gene.ramos@thomsonreuters.com; + 1 646 223 6054; Reuters
Messaging: geme.ramos.reuters.com@reuters.net))